TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issue manager
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Jamie Lee
11 September 2014
Blumont Group on Thursday said that its all-share bid for all of Australia-listed miner Genesis Resources has been extended because it is missing information from Genesis needed to produce a shareholder circular.
Blumont said that it needs to provide a "qualified person's report" to its shareholders, to seek approval for this deal.
"Blumont has not been able to prepare that qualified person's report to date because that report, in part, needs to be based on information prepared by Genesis," Blumont said in a regulatory filing.
"Blumont understands that the information will shortly be made available by Genesis."
Accordingly, the takeover offer is now scheduled to close on Feb 13, 2015.
The stock, along with two others, was part of the infamous penny stock crash that wiped out billions of dollars in market value last year.